'Three ATR Bands with multiple selection' indicator is a set of three ATR Bands indicators each having adjustable parameters.
It has nineteen input parameters:
- Show middle lines - show the middle ATR Band (Yes/No)
- Show first ATR Bands - show the first ATR Bands indicator (Yes/No)
- First ATR period - ATR calculation period for the first ATR Bands
- First MA period - MA calculation period for the first ATR Bands (middle line)
- First MA type - MA type for the first ATR Bands
- First applied price - MA calculation price for the first ATR Bands
- First bands multiplier - ATR multiplier for the first ATR Bands
- Show second ATR Bands - show the second ATR Bands indicator (Yes/No)
- Second ATR period - ATR calculation period for the second ATR Bands
- Second MA period - MA calculation period for the second ATR Bands (middle line)
- Second MA type - MA type for the second ATR Bands
- Second applied price - MA calculation price for the second ATR Bands
- Second bands multiplier - ATR multiplier for the second ATR Bands
- Show third ATR Bands - show the third ATR Bands indicator (Yes/No)
- Third ATR period - ATR calculation period for the third ATR Bands
- Third MA period - MA calculation period for the third ATR Bands (middle line)
- Third MA type - MA type for the third ATR Bands
- Third applied price - MA calculation price for the third ATR Bands
- Third bands multiplier - ATR multiplier for the third ATR Bands
The types of Moving Averages, which can be used for each of the three ATR Bands:
Calculation:
Top = Middle + ATR * Multiplier
Bottom = Middle - ATR * Multiplier
Middle = MA(Applied price, MA period, MA type)
Since the indicator provides wide options for adjusting the indicator lines, it is convenient for trading at rollbacks from extreme values.
